This study examines relationship between measures of working capital management and corporate profitability. Working capital management is an important element of financial management for many firms as they make significant investment in working capital components. Applying fixed effect...

This paper studies the impact of corporate ownership structure on firm performance. This paper tests whether policy intervention with respect to blockholding and higher managerial ownership is required in Pakistan. We hypothesise that market places expropriation premium on stocks of such firms...

We examine the empirical determinants of debt-maturity structure of 266 firms listed on the KSE over the period 2000 to 2004 using several variants of dynamic panel data models. We find mixed support for the agency cost hypothesis as our results show that debtmaturity increases with the size of...

Using two variants of panel data analysis, we attempt to find the determinants of capital structure of KSE listed non-financial firms for the period 1994-2002. Pooled regression analysis was applied with the assumption that there were no industry or time effects. However, using fixed effect...

In this paper, we study the potential determinates of the capital structure of non-financial firms listed on Karachi Stock Exchange. We analyse a sample of 445 firms listed on the KSE for the period 1997-2001. We have chosen tangibility of assets, size, firm growth rate, and profitability as...

Empirical evidence to identify factors that are responsible for the sluggish development of bond and capital markets in Pakistan remains scanty. This paper is a step forward in this direction. Specifically, this paper draws on the recent developments in the area of law and finance to formulate...

The debt-maturity structures of listed firms in Pakistan have shown significant decline over the last decade. In this study, we investigate changes in both the demand-side and supply-side factors that are responsible for this decline. For this purpose, we study 364 firms for a period of...

In this study, we attempt to show empirical evidence of momentum profits in Karachi Stock Exchange (KSE) using monthly stocks returns data of 609 stocks over the period June 2004 to March 2014. Using Jegadeesh and Titman (1993) methodology, we find that investors can earn positive returns by...

In this study, the relationship between corporate cash holdings and corporate governance variables is tested in Pakistan. The sample consists of 309 non-financial firms listed on the Karachi Stock Exchange (KSE) over the time span of 2002 to 2010. The study uses several proxies for corporate...